Biggest challenges of bitcoin... - page 3.

GreatArkansas

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Quote from: MTNNET on May 16, 2023, 07:46:57 AM

I personal see that there are scalability difficulties with cryptocurrencies, which means they may not be able to process enormous quantities of transactions at once. This might make them difficult to utilize for routine transactions, since these transactions may take too long to process and complete.
(....)

I believe that this issue is very simple. This kind of problem will be managed in the future, there is a lot of technology or projects that are helping to solve this issue like Lightning Network.
Another thing is this is a much better problem than the problem of "decentralization", it's easier to solve.
About people trusting Bitcoin as an investment, yeah this kind of issue is also an issue for some people that's why some are afraid to invest in Bitcoin.

ancafe

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Quote from: MTNNET on May 16, 2023, 07:46:57 AM

I personal see that there are scalability difficulties with cryptocurrencies, which means they may not be able to process enormous quantities of transactions at once. This might make them difficult to utilize for routine transactions, since these transactions may take too long to process and complete.

Maybe what you mean is the problem of busy network transactions that occur in bitcoin as it is today and where bitcoin transactions are very expensive, but in normal cases this will return to normal and there are several exchanges and wallets that can manage transaction fees and you can adjust them to your needs you, so it's less fixed what you mean in this post.

Quote from: MTNNET on May 16, 2023, 07:46:57 AM

So if you're asking yourself can I invest?

You can if you have money and obviously you can't when you don't have money.

Quote from: MTNNET on May 16, 2023, 07:46:57 AM

Is bitcoin worth investing in?

Very decent and even one of the best at the moment compared to other cryptos.

Quote from: MTNNET on May 16, 2023, 07:46:57 AM

Is it smart choice to invest?

There are many reasons that can convince us that bitcoin is a smart choice to invest, besides being able to maintain value and bitcoin also has the strength to survive when the economy is experiencing a crisis or recession.

Quote from: MTNNET on May 16, 2023, 07:46:57 AM

Then you need to understand the challenges involved, the pros and cons, what makes it difficult to invest or not.

Knowledge can bring someone to believe and understand bitcoin, the challenges of pros and cons in life cannot be separated in any aspect, including when you try to invest in bitcoin so you can see other aspects of utilization when you choose bitcoin.

Bitcoin_people

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Quote from: MTNNET on May 16, 2023, 07:46:57 AM

So if you're asking yourself can I invest? Is bitcoin worth investing in? Is it smart choice to invest? Then you need to understand the challenges involved, the pros and cons, what makes it difficult to invest or not.

Of course Bitcoin is worth investing in. There are many investors who have profited from their Bitcoin investments. And they share with us their experience that they have been able to earn profit by trading cryptocurrency. According to those investors advice and guidance attract us a lot to invest in Bitcoin. If you are willing to invest then definitely you can invest with your savings. and you need to understand when to invest and when to sell so you can get ideas. When you invest in Bitcoin, you must invest in a bear market. the market is in this position to invest right now so you make an investment and wait for Bitcoin to pump.

goaldigger

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Quote from: MTNNET on May 16, 2023, 07:46:57 AM

So if you're asking yourself can I invest? Is bitcoin worth investing in? Is it smart choice to invest? Then you need to understand the challenges involved, the pros and cons, what makes it difficult to invest or not.

Dealing with Bitcoin is not easy at all, in fact cryptomarket is the most volatile market and its already exceeded the forex market. These challenges will make you stronger if you are able to overcome it, remember there’s a lot of opportunity with cryptomarket, all you have to do is to act right. Pros and cons if you invest with Bitcoin are more ok compare to the altcoins, if you want to be more safe in crypto then buy cheaper Bitcoin and hold it.

Dr.Bitcoin_Strange

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Quote from: MTNNET on May 16, 2023, 07:46:57 AM

So if you're asking yourself can I invest? Is bitcoin worth investing in? Is it smart choice to invest? Then you need to understand the challenges involved, the pros and cons, what makes it difficult to invest or not.

Normally, with every investment, whether in crypto or another investment, there are some pros and cons that, if not properly understood, could lead to some regrets at the other end. I still remember when I first invested with one company, there were some cover papers they gave me that had boldly written on them "memorandum of understanding." That book contained all the terms and policies of the investment am venturing into, as well as the possible risk attached, but in the crypto world, everything is mistakenly understood by some people because there are no official rules for investing in Bitcoin or other shitcoins, but whoever is investing should be sure they understand what they are doing.

Josefjix

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Quote from: Aikidoka on May 19, 2023, 05:47:27 AM

To be honest, I wouldn't say no to invest in Bitcoin. It has proven to be a profitable long-term investment and in my opinion it ranks among the top successful investment options available at least for me. I'd say investing in bitcoin, gold or real estates are top tier but let's just talk about bitcoin.

Since when it was released in 2009, Bitcoin reached a peak of $69,000 in 2021. This growth is truly insane especially when considering its initial value of just a few cents. Now, let's think about the future, let's say 5 to 10 years from now as our world continues to develop and technology further dominates our lives. In this scenario, it's highly likely that Bitcoin will witness even greater adoption and usage. The potential for widespread use is huge, and I wonder what price Bitcoin might hit during this time.

Who wouldn't want to invest in bitcoin now that they realize it's a potentially profitable coin with big profits? The world is changing, and we must prepare our minds for greater accomplishments to come, spending more time on solid projects and also anticipating to start gaining more knowledge and experience in the space. Bitcoin is a rock-solid project in the market, and its existence has been extremely helpful to investors who understand how the project operates. This was the foundation of top whales in the market in 2009, their roots traced back and made profitable with well-planned strategies.

rahulzx

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Quote from: Call_Me_Guru on May 16, 2023, 08:12:45 AM

What has scalability got to do with bitcoin investment, trading volume and future flourishness?

What you call a problem is the reason bitcoin is unique and can not be tampered with. No other project can challenge it since in place of decentralization and integrity of the system. The lack of much scalability is the price bitcoin it is paying and it will always stay that way and still be the most demanded for.

It has created the road, others are only enjoying it.

Hence there is institutional traders involving and doing heavy swings on market retail traders are avoiding trade confidently as this market makers. New traders loss their bags and removing from market with empty hand after every heavy swing on market, As I think,If this situation stabilize by market makers there be more dealers involving btc market.

Bananington

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Quote from: MTNNET on May 16, 2023, 07:46:57 AM

So if you're asking yourself can I invest? Is bitcoin worth investing in? Is it smart choice to invest? Then you need to understand the challenges involved, the pros and cons, what makes it difficult to invest or not.

Generally when try to invest in anything, you need to have a proper understanding of what you are about to invest in. Blindly investing because everyone is investing can be a dangerous to you even if the investment is on something good. Bitcoin is good to invest in but you should have a reason to invest in it. The high transaction fee and waiting time if bitcoin is to be used for transactions can be a challenge, but it should not be enough to discourage you from stopping to invest in it. The pros of having bitcoins far outweigh the cons.

AicecreaME

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Quote from: Husires on May 17, 2023, 10:05:38 PM

What cryptocurrency are you talking about, there are thousands of cryptocurrencies, and many of them can produce more than one block within 100 seconds, and therefore using them will enable anyone in the world to conduct a transaction whenever they want.

Some protocols are centralized, so if we take Ripple (XRP) as an example, there is no problem of scalability as it is specially designed to process thousands of transactions continuously, but it is centralized and has one point of failure.

When you search for investment, daily use is not a criterion to determine whether this service is good as an investment or not, and the evidence for that is gold. It can be used as a currency, and yet we do not pay transactions with it daily.

I definitely agree with you.

Any investment is worth the risk because you will make profits if you win, and if you lose you will learn. There's no successful investors that didn't take any risk, we all do that because we need a result, we need to know what's waiting for us after we took a risk. Risking is to know the answers to all of our "what ifs", and without risking, you will left thinking all the what ifs, and that is so stressful because of regrets.

Aikidoka

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Quote from: MTNNET on May 16, 2023, 07:46:57 AM

So if you're asking yourself can I invest? Is bitcoin worth investing in? Is it smart choice to invest? Then you need to understand the challenges involved, the pros and cons, what makes it difficult to invest or not.

To be honest, I wouldn't say no to invest in Bitcoin. It has proven to be a profitable long-term investment and in my opinion it ranks among the top successful investment options available at least for me. I'd say investing in bitcoin, gold or real estates are top tier but let's just talk about bitcoin.

Since when it was released in 2009, Bitcoin reached a peak of $69,000 in 2021. This growth is truly insane especially when considering its initial value of just a few cents. Now, let's think about the future, let's say 5 to 10 years from now as our world continues to develop and technology further dominates our lives. In this scenario, it's highly likely that Bitcoin will witness even greater adoption and usage. The potential for widespread use is huge, and I wonder what price Bitcoin might hit during this time.

ethereumhunter

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Quote from: MTNNET on May 16, 2023, 07:46:57 AM

So if you're asking yourself can I invest? Is bitcoin worth investing in? Is it smart choice to invest? Then you need to understand the challenges involved, the pros and cons, what makes it difficult to invest or not.

I can invest in bitcoin. That's what I told myself. I see bitcoin is worth investing in, even at the current price, bitcoin is still very worth investing in. For me, it was a smart choice to choose bitcoin as my investment because to invest in other things, I still can't afford it.

The challenges mentioned, namely the pros and cons or what makes it difficult to invest, come from you. If you are still hesitant to invest in bitcoin, it's best not to go ahead and think more so you find out what your reasons are for investing in bitcoin. At least, I advise other people or my friends to think and learn more about bitcoin.

irhact

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Quote from: Rupok on May 16, 2023, 12:01:28 PM

Of course everything should be justified before investing. A few days ago Bitcoin faced scalability challenges due to high transaction volume. This makes Bitcoin transactions slower and more high transaction fee.Everyone is now worried about the high transaction fees of Bitcoin. We have not faced such scalability challenges in any other year except this year 2023. Bitcoin will overcome scalability challenges very soon. I'm not too worried about Bitcoin scalability, because the demand for Bitcoin will be higher day by day.

2023 isn't the first time we're experiencing Bitcoin scalability problems. It's because of this problems has happened in the past that's why we have the developers working on solutions. Bitcoin lightening network has been introduced but lacks adoptions. If more business adoption the lightening network, we'll begin to have less congestions.

Also business should use more of segwit address instead of the legacy address. It won't eliminate the problem totally but it'll reduce it and we can have more transactions been confirmed by the miners and this confirmation are done in faster times to keep the network fast.

carlfebz2

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Quote from: rozak on May 18, 2023, 08:18:25 AM

Quote from: MTNNET on May 16, 2023, 07:46:57 AM

So if you're asking yourself can I invest? Is bitcoin worth investing in? Is it smart choice to invest? Then you need to understand the challenges involved, the pros and cons, what makes it difficult to invest or not.

people who just keep asking how Bitcoin works, without taking action to explore the market. clearly they were full of doubts. people like that that will be difficult to invest. even people like that will not do anything after getting an explanation from anyone because they have in their minds are doubts and read too much negative news related to Bitcoin.
when we see how Bitcoin is hit by negative issues and also the market falls and then rises again. it happened not just once. the decision lies with everyone. want to take a risk, or will just be a listener and comment when they are late to join.

Just let those doubtful or critics would really be indulging themselves on what are those ideas they do have in mind because sooner or later they would really be able to realize on whats the truth and would realize

that they had wasted up so much time and opportunity to know and accumulate while its still cheap.They wont really be that get convinced if they wont really be able to see those proofs but of course everything would really be goes in time because recognition and adoption isnt something that would really be fasten up.It would really be surely taking up some time but well it isnt really that guaranteed because
there's no such thing about assurance on this crypto world. There's no really assurance that we would be flying out to the sky on upcoming years to come.
Challenges would be mainly about against government which is usual stuff but somewhat could be handled out as long there's a strong community who is backing it up.

rozak

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Quote from: MTNNET on May 16, 2023, 07:46:57 AM

So if you're asking yourself can I invest? Is bitcoin worth investing in? Is it smart choice to invest? Then you need to understand the challenges involved, the pros and cons, what makes it difficult to invest or not.

people who just keep asking how Bitcoin works, without taking action to explore the market. clearly they were full of doubts. people like that that will be difficult to invest. even people like that will not do anything after getting an explanation from anyone because they have in their minds are doubts and read too much negative news related to Bitcoin.
when we see how Bitcoin is hit by negative issues and also the market falls and then rises again. it happened not just once. the decision lies with everyone. want to take a risk, or will just be a listener and comment when they are late to join.

Popkon6

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Quote from: MTNNET on May 16, 2023, 07:46:57 AM

I personal see that there are scalability difficulties with cryptocurrencies, which means they may not be able to process enormous quantities of transactions at once. This might make them difficult to utilize for routine transactions, since these transactions may take too long to process and complete.

So if you're asking yourself can I invest? Is bitcoin worth investing in? Is it smart choice to invest? Then you need to understand the challenges involved, the pros and cons, what makes it difficult to invest or not.

https://www.google.com/url?q=https://mint.intuit.com/blog/investments/pros-and-cons-of-bitcoin/&sa=U&ved=2ahUKEwiZqMKO7fn-AhULUcAKHXi7CvYQFnoECAQQFA&usg=AOvVaw0WbZ-GFopDbGQkRs7kS0nf

I think scalability is the problem that Bitcoin used to de-risk but failed. But investing in Bitcoin is a smart move because gas fees are not that much of an issue. All transactions increase the gas fee amount. So you can invest in Bitcoin without fear. Of course, Bitcoin is a worthy platform to invest in. Investing in altcoins is risky. But investing in Bitcoin is a trustworthy so it's easy solution.

michellee

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What makes investing difficult for you is that you don't know where to start because if you don't, you can go into the market and buy a few satoshis or even 1 BTC right away and save it for the long term. We all know BTC is worth investing in and we have seen the future potential of BTC through its history.

So if you are still confused about whether to invest in BTC or not, you should read more about BTC to be sure. People who invest in BTC think it is the smartest choice they can make and they are already benefiting from investing in BTC.

So it depends on you whether to invest in BTC or not, it is each person's choice and there is no compulsion to participate in investing in BTC.

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Quote from: MTNNET on May 16, 2023, 07:46:57 AM

I personal see that there are scalability difficulties with cryptocurrencies, which means they may not be able to process enormous quantities of transactions at once. This might make them difficult to utilize for routine transactions, since these transactions may take too long to process and complete.

So if you're asking yourself can I invest? Is bitcoin worth investing in? Is it smart choice to invest? Then you need to understand the challenges involved, the pros and cons, what makes it difficult to invest or not.

There are many differences that should not be equated between crypto and Bitcoin before you discuss the issue of scalability because in the past many cryptos have tried to be better than Bitcoin but could not start from the ICO era.
Bitcoin doesn't promise like the promises offered by crypto from Ethereum to crypto we don't know the name but Bitcoin provides proof.

High Bitcoin transaction fees have occurred and can be resolved successfully.
I personally am no longer at the stage of asking whether it is worth investing in Bitcoin because Bitcoin is indeed the coin of choice.

Patrol69

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Quote from: Mr. Magkaisa on May 18, 2023, 03:32:23 AM

The only thing that worries other bitcoin holders right now is that the fees to make a bitcoin transaction may still be high. Now, if you ask if it is still a wise decision to invest in bitcoin, my answer is yes.

Although there are some things that I still consider that should be considered in the risks that can be faced with Bitcoin, but still, of course, it is still up to us. What do we really want?

Pros and cons of Bitcoin https://www.cointree.com/learn/pros-and-cons-of-bitcoin/

Bitcoin transaction fees have come down to a somewhat normal level now that it is possible to make transactions in Bitcoin if desired. And those who invest I don't think the transaction fees for investing are huge. Investing in Bitcoin is always a good decision because Bitcoin can be trusted more than other currencies. If the advantages and disadvantages of Bitcoin are discussed then the advantages of Bitcoin will be more in comparison. Most people think that investing in Bitcoin is very risky but investing in Bitcoin is not only risky but investing in any other platform is very risky. All things considered, investing in Bitcoin is wise.

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Quote from: MTNNET on May 16, 2023, 07:46:57 AM

I personal see that there are scalability difficulties with cryptocurrencies, which means they may not be able to process enormous quantities of transactions at once. This might make them difficult to utilize for routine transactions, since these transactions may take too long to process and complete.

So if you're asking yourself can I invest? Is bitcoin worth investing in? Is it smart choice to invest? Then you need to understand the challenges involved, the pros and cons, what makes it difficult to invest or not.

https://www.google.com/url?q=https://mint.intuit.com/blog/investments/pros-and-cons-of-bitcoin/&sa=U&ved=2ahUKEwiZqMKO7fn-AhULUcAKHXi7CvYQFnoECAQQFA&usg=AOvVaw0WbZ-GFopDbGQkRs7kS0nf

7 is the actual TPS of Bitcoin which will never be enough if more people started to use Bitcoin for every transaction they make cause the incoming transaction will be 2K and the network can only manage 7 to 8 so all the remaining will stuck and the people will keep pushing the fee higher to get their transaction to get included in the block.

But from investors point of view its different, they are not going to look at the challenges they will look at the track record and what bitcoin produced to the investors over the years so long term investors don't bother the short term clogs but if it persist for long term then bitcoin will stuck with its current system.

Johnyz

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Quote from: MTNNET on May 16, 2023, 07:46:57 AM

So if you're asking yourself can I invest? Is bitcoin worth investing in? Is it smart choice to invest? Then you need to understand the challenges involved, the pros and cons, what makes it difficult to invest or not.

I can say Bitcoin is worth it because of my personal experience with Bitcoin, yes it might be risky but its volatility will make more profit for you if you know how to utilize it. There might be issues when it comes to the value of Bitcoin but if you see a big picture for a longer time frame, you can see what's the real worth of Bitcoin.

Trading will make it more challenging, so if you don't have much time then play longer and deal with Bitcoin.

Topic: Biggest challenges of bitcoin... - page 3. (Read 621 times)